Exercise 1 The following information was taken from the accounts and records of the Cribs Foundation, a private, non-profit organization. All balances are as of December 31, 2005, unless otherwise noted. Unrestricted Support - Contributions. Unrestricted Support - Membership Dues. Unrestricted Revenues - Investment Income. Temporarily restricted gain on sale of investments Expenses - Research. Expenses - Fund Raising.... Expenses - Management and General Restricted Support - Contributions Restricted Revenues - Investment Income. Permanently Restricted Support - Contributions Unrestricted Net Assets, January 1, 2005 Temporarily Restricted Net Assets, January 1, 2005. Php5,000,000 600,000 96,000 9,000 3,200,000 700,000 300,000 600,000 50,000 60,000 500,000 6,000,000 Permanently Restricted Net Assets, January 1, 2005. 50,000 The unrestricted support from contributions was received in cash during the year. The expenses included Php1,300,000 payable from donor-restricted resources. Required: Prepare Cribs's statement of activities for the year ended December 31, 2005 Exercise 2 The following information was taken from the accounts and records of the Bahay Mapagmahal Foundation, a private, non-profit organization. All balances are as of June 30, 2006, unless otherwise noted. Unrestricted Support - Contributions Unrestricted Support - Membership Dues Unrestricted Revenues - Investment Income Temporarily restricted gain on sale of investments Expenses - Research Expenses - Fund Raising..... Expenses Management and General Restricted Support - Contributions Restricted Revenues - Investment Income. Unrestricted Net Assets, July 1, 2005.... Permanently Restricted Support - Contributions Temporarily Restricted Net Assets, July 1, 2005.. Permanently Restricted Net Assets, July 1, 2005 60,000 Php3,000,000 700,000 76,000 19,000 2,200,000 400,000 500,000 600,000 40,000 70,000 450,000 2,100,000 The unrestricted support from contributions was received in cash during the year. The expenses included Php800,000 payable from donor restricted resources. Required: Prepare Bahay Mapagmahal's statement of activities for the fiscal year ended June 30, 2006.

Exercise 2 (LO 4, 6) Contributions, statement of activities. Early in 2018, a not-for- profit organization received a $4,000,000 gift from a wealthy benefactor. This benefactor speci- fied that the gift be invested in perpetuity with income restricted to provide speaker fees for a lecture series named for the benefactor. The not-for-profit is permitted to choose suitable investments and is responsible for all other costs associated with initiating and administering this series. Neither the donor's stipulation nor the law addresses gains and losses on this permanent endowment. In 2018, the investments purchased with the gift earned $100,000 in dividend income. The fair value of the investments increased by $300,000. The not-for-profiť's accounting policy is to record increases in net assets, for which a donor-imposed restriction is met in the same accounting period as gains and investment income are recognized, as increases in unrestricted net assets. Five presentations in the lecture…

P. 12-6 The distinction between contributed services that warrant financial statement recognition and those that do not is not always clear. For each of the following situations, indicate whether the organization should recognize the described contributed services as revenue (offset by a corresponding expense). Briefly justify your response or identify key issues. Nellie Wilson, the noted country-and-western singer, performs a benefit concert for the Save Our Farms Association, a political advocacy group. Wilson, who would normally charge $60,000 per concert, did not accept a fee. Camp Chi-Wan-Da, a summer camp for disadvantaged youth, benefits from the services of four physicians, each of whom spends two weeks at the camp providing medical services to the campers. The doctors receive free room and board but no salary. Camp association standards require that a camp of Chi-Wan-Da’s size either have a physician on premises or have a physician on call. The Taconic Music Festival, a…

Exercise 10-8 (Algo) Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in any missing amounts as needed. Revenues Contribution revenues Net assets released from restrictions Total revenues CENTERVILLE AREA HOMELESS SHELTER Statement of Activities For the Year Ended December 31, 2020 Expenses Temporary shelter program Self-sufficiency program Fund raising Administration Total expenses Increase in net assets Net assets January 1 Net assets December 31 Net Assets without Donor Restrictions $ 0 0 90,000 21,000 111,000 Net Assets with Donor Restrictions $ (30,000) (30,000) 0 28.150 14,650 42,800 Total $ 1,595,530 $ 0 1,595,530 1,037,400 372,200 8,200 59,580 1,477,380 118,150 35,650 153,800